Economic profit is

1.	Economic profit is
Answer» TOTAL revenue minus total cost Economic PROFIT is Total revenue minus total cost. Economic profit is the monetary costs and opportunity costs a firm PAYS and the revenue a firm receives. Economic profit = total revenue – (explicit costs + IMPLICIT costs).

Answer»

TOTAL revenue minus total cost

Economic PROFIT is Total revenue minus total cost. Economic profit is the monetary costs and opportunity costs a firm PAYS and the revenue a firm receives. Economic profit = total revenue – (explicit costs + IMPLICIT costs).

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Economic profit is

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